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Hello the denominator in the equation for the pass rate includes all registered people (also those that did not come to do the exam) or only those people that actually sat for the exam? Thanks

in facts I also did your reasoning just after the exam and I have your same impression

I think it's CVA, this question was not elaborated in its structure, as far as I remember

yes insurance premium should never be added

Hello Can I kindly ask you whether you are sure about choice B? because I remember that one option was something with replacement costs minus insurance recovery, I am not completely sure about it by the way Thanks

In facts yes all is dependent on the semantics of the question, I have also answered policy-mix like Abhirup_2015 since the two analysts were discussing the emerging market opportunity as an asset class, they were investing passively without selecting specific countries or titles. However it is...

I agree with your comments, although my doubt is that the emerging market asset allocation could be intended as a tout-court asset class. This would in my view not rule out the policy mix risk. Of course all the reasoning is dependent on the semantics of the question that was in my view open to...

I am not sure but I think so: I remember only two of the options, the CDS and the CLN

Hi everyone Does anyone remember a question concerning CDS and credit linked notes, where we were asked to select which instrument would be more effective in minimizing credit risk? Thanks

Hello Thanks for the information: I did not recall any assumption on volatility in the question, if this was the case many apologies. I based my reasoning on page 138 of Schweser book 2, where actually both senior and subordinated bonds' mean value decreases when a firm is under financial...

Thanks for the information, but I am convinced there was no hypothesis on the volatility, neither on correlation. The question just stated that the firm went into financial distress. I just found out that in Schweser material the mean value of both senior and subordinated bonds decrease (page...

yes exactly that's why I corrected from B to D (where the line decreases): if I remember correctly, the Y-axis was explicitly expressed as (1-netting factor). Concerning my previous statement on the question for the financially distressed firm, I found at page 138 of Schweser material book 2 a...

I also selected increase senior/decrease subordinated, but my doubt concerned the fact that there was no assumption on correlation or probability of default on the question. Thus I changed my answer to decrease/decrease, since I am not totally convinced by logic that the senior debt would be...

Good morning There was a question at the beginning of the exam concerning a firm in financial distress, it was asked whether senior and junior debt would increase or decrease. I cannot remember the question word by word, but there was no indication on whether correlation or default probability...

yes I understand and I agree on the formula, but the variable on the axis was (1-benefits) as expressed in the problem, that is why I chose answer D (decreasing line) instead of B

Hello For 1. Ops gross loss, I also chose replacement, but should the insurance coverage benefits be subtracted from the replacement cost itself? One doubt for the last question: I assumed net benefits of diversifications decrease as N increases, so I chose option D, where the curve was...

hi everyone I passed level one but I would like just for curiosity to know how much was the pass rate Does anyone know whether this information has already been released? thank you

I am terribly happy as well, and I would also thank BIONIC TURTLE for the guidance, and GARP, which anticipated the results release before end of year!!

I am happy too:)

I received the message as well! Good luck everyone